May 1, 2024

Russian cryptocurrency law

The bill on digital currencies in Russia is still under development.
They plan to accept it in the autumn sessionState Duma.
The Central Bank, naturally, as I initially expected, came out with the toughest possible position.
Mining is supposed to be banned, as well as crypto advertising.
In general, it will be illegal to buy or sell crypto in Russia.
Now, according to some estimates, of the $15 billion daily crypto turnover, 10% comes from the Russian Federation.

In principle, it seems to me nothing fundamentallythe whole turn (including the Russian one) will change, and so over the hill, Russian mining has long died along with a drop in profitability. So no one will really cry that the digital business is squeezed out of Russia.

Or I'm wrong?